Which of the Following Is Not an Attestation Standard

question 652

Multiple Choice

Which of the following is not an attestation standard?

• A) Sufficient evidence shall be obtained to provide a reasonable basis for the conclusion that is expressed in the report.
• B) The report shall identify the assertion being reported on and state the character of the engagement.
• C) The work shall be adequately planned and assistants, if any, shall be properly supervised.
• D) A sufficient understanding of internal control shall be obtained to plan the engagement.

Differentiate between manufacturing and non-manufacturing costs.

Calculate raw materials used in production and total manufacturing costs from given data.

Understand the classification of labor costs into direct labor and indirect labor (manufacturing overhead).

Understand the impact of inventory accounting on financial statements.

---

Definitions:

Potential Buyers

Individuals or organizations that are considered likely or prospective customers for a product or service.

Advertising

Advertising is a promotional activity or strategy intended to attract public attention to products, services, or brands through various media channels.

Personal Selling

Personal selling is a direct marketing approach where salespersons use face-to-face interactions to convince potential buyers to make a purchase.

Salesperson

An individual responsible for selling a company's products or services, often directly to customers, through understanding their needs and offering solutions.